ISLAMABAD: In perpetuation of FBR’s outreach activities for promoting tax compliance and citizenship education, FBR has engaged with the youth on campus enrolled at various leading public and private universities by signing a MoU with Bahria University, NUST, Islamabad and Quaid-i-Azam University, Islamabad.
FBR has also proposed to establish a vibrant students’ forum named as TACS (Tax Awareness & Compliance Society) with a view to promote education and awareness about taxation through focused group discussions, seminars, lectures and walks. Pressing the MoU in practice, FBR coordinated an interactive session hosted by School of Management Sciences at Quaid-i-Azam University, Islamabad.
Muhammad Asad Tahir, Director Media/Spokesperson FBR addressed the students and dilated upon the scope and significance of paying taxes for the country. He emphasized that the students are not only the custodians of the future of this country but will soon be potential taxpayers as they start their practical lives. Hence, it is imperative that they should also become brand ambassadors of FBR and ask their immediate relations for discharging their tax liabilities so that our country becomes economically self-sufficient and is freed from the menace of heavy borrowing both national and international.
Subsequently, the students and faculty members asked some very pertinent questions about taxation which were answered and clarified by Director Media. He removed some misconceptions about the tax administration and enlightened the audience about the latest initiatives taken by FBR in maximizing revenue collection and ensuring ease of doing business, especially those related to the digital interventions.
In the end, a very interesting quiz program about taxation in Pakistan was moderated by Rashid Javaid Rana, Secretary Facilitation and Taxpayers Education, FBR in which the winning students were given away token prizes by Director Media, FBR, Assistant Professors Dr. Ali Raza and Dr. Waseem Abbas Shaheen from the Quaid-i-Azam University.
Meanwhile, the Federal Board of Revenue (FBR) FBR in collaboration with United Nations Office on Drugs and Crime (UNODC) organized training sessions on AML/CFT compliance for Designated Non-Financial Businesses and Professions (DNFBPs) comprising jewelers, accountants and lawyers.
A number of office bearers of various associations were also present in the training sessions. The senior representatives from Ministry of Foreign Affairs, National Counter Terrorism Authority (NACTA), FBR, Financial Monitoring Unit (FMU) and Institute of Chartered Accounts of Pakistan (ICAP) were the key speakers.
In his opening remarks, Mohammad Iqbal, Director General DNFBPs, emphasized on combating Money Laundering in the non-financial sectors of the country. He apprised the participants of the FATF compliance measures and the country’s own requirements to choke the funds and resources for money laundering and financing of terrorism.
The DG DNFBPs highlighted that FBR as the AML/CFT regulatory authority will continue supervising and facilitating the DNFBPs, so that the ill-gotten proceeds of crimes cannot be stashed in gold or precious metals and stones.
The speakers informed the DNFBPs on various aspects of AML/CFT, such as screening the lists of proscribed or UN designated persons and organizations, customer’s due diligence, suspicious transaction reporting and the national risk assessment on money laundering and terrorist financing.
At the conclusion, a question-answer session was held and the DNFBPs raised their queries on various aspects of AML/CFT implementation. The sessions were welcomed and acknowledged by all the participants.